On page 11 of the Steem White Paper it states: "The primary concern of steem feed producers is to maintain a stable one-to-one conversion between SBD and the U.S. dollar."

The claim that a minimal USD value can be assured by any crypto currency is untrue and simply untenable. This is evident by the fluctuating value of SBDs both below and well above the originally characterized peg, the latter being the case now.

My question as this relates to SMTs - the SMT White Paper says the following:

"Issuing a smt_create_operation requires payment of smt_creation_fee...If specified in SBD, an equivalent amount of STEEM will be accepted...Initially, smt_creation_fee will be set to 1 SBD & no means will be provided to update it."

In accordance with the above statement, SMT creation fees appear to be tied to the face value of SBDs or an equivalent USD amount of steem.

How does one reconcile this with the assertion of the Steem White Paper that SBDs should be pegged to $1 USD?

Steemit Inc should definitively clarify this.